Bitcoin price & Altcoin analytics

The cryptocurrency community is now happier than two or three months ago when Bitcoin was trading at around $3,934. For the past one week the Bitcoin price has managed to remain trading above the $8,000 price mark. And since this week started, the BTC price has never plummeted below the $9000 support level.

In the past weekend, Bitcoin surged up to $9,381 with the increasing rate of 7% in 24 hours which makes bitcoin’s market cap be over $165 billion US dollar, hitting the highest record so far in 2019. Since BTC’s breaking $8,000 mark in May, it continues its upward movement though there are some pullbacks. Why BTC managed to rise above $9,000? Here are 5 reasons may be contributing to the Bitcoin bullish run.

While the whole cryptocurrency community was expecting another major bull run, the price trend of Bitcoin (BTC) appears to be once again disappointing. However, the BTC’s rally has continued over the past few hours, and the rest of the digital assets have trailed in its stir. Some senior blockchain and crypto analysts have even started to predict a weighty bearish viewpoint.

Should we assume that the world’s second altcoin by market capitalization (MC) Ethereum is gradually collapsing or should the digital currency and blockchain community remain hopeful of a mega upward swing in 2019 to permanently leave behind Ripple and further surpass Bitcoin, in terms of value, price and adoption? Is ETH among the best cryptocurrency to trade or invest in or it was just a bubble?

On Tuesday, Bitcoin price dropped by over 6%, today, it has also reduced by 2% and is now trading below the $8,000 mark. The leading cryptocurrency had recently traded over $9,000 level, but due to its volatility nature, Bitcoin is now going to the dogs. Let’s go into the likely reasons for this temporary reversal in the pattern of BTC rate.

The cryptocurrency market has favoured Bitcoin and many altcoins this month, drastically increasing in value over this period. Bulls have been dominating the market by kicking bears out of the way, with only 6 digital currencies out of top 100 trading down.

The month has started pretty excitingly with Bitcoin skyrocketing from $5,300 to $8,700, a 65% surge. Altcoins seem to be recovering from the bear market as well, with some gaining more than 200% in price. Does this mean that we are at a pivot point and a bull market has already started?

The cryptocurrency market continues to show bullish price rally as almost all the top 100 digital currencies remain trading in the green, at press time, according to the coinmarketcap (CMC) data. Bitcoin (BTC/USD) is currently trading above $8,700 and shows a possibility of hitting and surpassing the $9000 price level, should we assume that the next bull is on the market’s door knocking.

The volatile nature of Bitcoin and other cryptocurrencies sees them fluctuate according to market conditions. In this very week, the world’s leading cryptoasset traded above $8,320, but to our surprise, the digital asset is now falling to hit the $7,000 level.